CCK Consolidated retreated after failing to break above the resistance level of RM0.645. With an RSI above 50%, the uptrend momentum may resume if it crosses above the resistance level with higher trading volume. In this case, its short-term target price will be RM0.725 followed by RM0.80. Support is anticipated at RM0.57, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon rebound above RM0.645
Target: RM0.725, RM0.80 (time frame: 3-6 weeks)
Exit: RM0.57
Source: AmInvest Research - 25 Apr 2019
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Created by AmInvest | Sep 06, 2024
Created by AmInvest | Sep 05, 2024